PDL BioPharma, Alexion settle patent dispute

NEW YORK—PDL BioPharma Inc. and Alexion Pharmaceuticals Inc. said Monday they settled a patent dispute over the blood disorder drug Soliris, in a cash for rights exchange.

Soliris is Cheshire, Conn.-based Alexion's only marketed product. Approved by the Food and Drug Administration in March 2007 and European regulators in June 2007, it treats the rare blood disorder paroxysmal nocturnal hemoglobinuria which causes anemia, red urine and life-threatening blood clots.

Incline Village, Nev.-based PDL claimed patent infringement in the dispute. Under the deal, Alexion will pay $25 million in exchange for a license to sell Soliris under the Queen patent, which focuses on the use of antibodies. No additional payments will be owed, the companies said.

Meanwhile, PDL separately granted Alexion the right to a royalty-bearing license for future sales of drugs also using the patent. In that deal, Alexion will pay a royalty of 4 percent of net sales on those products.